North America is projected to dominate the market in the forecast period. The domination of the region can be attributed to the active participation of developed countries such as the USA and Canada. Expansion of the furniture market in the region is expected to play a key role in driving the Metal Polish Market growth.
Growing initiatives to expand players’ footprint in the market are expected to further strengthen the market. For instance, in 2018, Alibaba.com, a Chinese e-commerce giant, invested US$ 2.88 Billion in furniture retailer EasyHome. EasyHome is a Canadian retailer business. Such initiatives are anticipated to boost demand for metal polish products in the forecast period.
The metal polish products market forecasted to register 5.7% CAGR during the forecast period (2022-2032) & projected to reach US$ 23.5 Billion by 2032.
Increasing use of various metal alloys in furniture, machinery, and other metal items is anticipated to significantly boost the market over the course of the forecast period.
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Metal products are polished to create a reflective surface, inhibit the contamination of instruments, prevent the corrosion of pipes, remove oxidation as well as enhance the appearance of any item. Metal polish products are used to remove oxidation from metal objects with a motive to prevent the metal from getting corroded and increase its lifespan.
Metal polish products are gaining traction in the market, owing to the high use of metals in furniture, antiques and machinery. The use of metal polish is not only limited to clean metals and restore shine, but it also helps in removing a layer of oxidation as oxidized metal has a bad finish, looks dull and stains easily.
Rising consumer demand for a smoother microscopic surface, better reflection, high gloss and shine in metal products is a key contributing factor to the growth of the metal polish products market. The supply-side participants in the metal polish products market are engaged in the innovation of new products to cater to the consumer demand and thereby complement the growth of the metal polish products market.
Technological Advancements & New Product Innovation drive the Adoption of Metal Polish Products
The global metal polish products market has been registering rapid growth, owing to the use of different metal alloys in machinery, furniture and other metal products due to their cheaper cost and high efficiency. Metal polish products are available in different forms such as foam, tablet, gel, spray and liquid, depending upon the application.
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The rising awareness about the availability of these products also complements the growth of the metal polish market. Metal polish products are used to safely clean, protect and shine metal surfaces without causing damage. Recently, a sudden hike in the demand for metal polish products has been observed, owing to their versatile nature, to remove tarnish, clean surface dust, prevent corrosion and surface rust and inhibit oxidation. Metal polish products find a wide range of applications in various metals such as silver, gold, aluminum, stainless steel, bronze, chrome, brass and more.
Metal Polish Products Market: Market Participants
The key market participants identified across the value chain of the metal polish products market are Tri-Peek International Limited, Rubbedin cleaning products, Canadian Tire Corporation, Limited., California Custom Products Inc., Reckitt Benckiser Group PLC, S. C. Johnson & Son, Inc., Diversified Chemical Technologies, Inc., White Diamond Detail Products, Weiman Products, LLC., Wizards Products, Turtle Wax, Inc., Halfords Limited, Menzerna polishing compounds GmbH & Co. KG and Cyclo Industries, Inc., among others.
Opportunities for Metal Polish Products Market Participants
Globally, the metal polish market has been witnessing significant growth, owing to the rise in the demand for cleaning and polishing products. The market is governed by the innovation of new products, owing to advancement in technology, as a result of which the manufacturers of metal polish products market keep adding new products to their portfolios.
The supply-side participants of the metal polish products market are focussed on making their products more efficient and cost-effective. The emergence of e-commerce and the influence of TV commercials also play a major role in driving the growth of the metal polish products market during the forecast period.
The report offers a comprehensive evaluation of the market. It does so via in-depth qualitative insights, historical data, and verifiable projections about market size. The projections featured in the report have been derived using proven research methodologies and assumptions. By doing so, the research report serves as a repository of analysis and information for every facet of the market, including but not limited to: regional markets, form, end-use & sales channel.
The study is a source of reliable data on:
- Metal Polish Products Market segments and sub-segments
- Metal Polish Products Market trends and dynamics
- Supply and demand
- Metal Polish Products Market size
- Current trends/opportunities/challenges
- Competitive landscape
- Technological breakthroughs
- Value chain and stakeholder analysis
The regional analysis covers:
- North America (U.S. and Canada)
- Latin America (Mexico, Brazil, Peru, Chile, and others)
- Western Europe (Germany, U.K., France, Spain, Italy, Nordic countries, Belgium, Netherlands, and Luxembourg)
- Eastern Europe (Poland and Russia)
- Asia Pacific (China, India, Japan, ASEAN, Australia, and New Zealand)
- Middle East and Africa (GCC, Southern Africa, and North Africa)
The report has been compiled through extensive primary research (through interviews, surveys, and observations of seasoned analysts) and secondary research (which entails reputable paid sources, trade journals, and industry body databases). The report also features a complete qualitative and quantitative assessment by analyzing data gathered from industry analysts and market participants across key points in the industry’s value chain.
A separate analysis of prevailing trends in the parent market, macro- and micro-economic indicators, and regulations and mandates is included under the purview of the study. By doing so, the report projects the attractiveness of each major segment over the forecast period.
Metal Polish Products Market: Segmentation
On the basis of form, the metal polish products market has been segmented as:
- Liquids
- Sprays
- Gels
- Tablets
- Foam
On the basis of end use, the metal polish products market has been segmented as:
- Households
- Industrial
- Metal Manufacturing
On the basis of sales channel, the metal polish products market has been segmented as:
- Hypermarkets
- Supermarkets
- Independent Retailers
- Multi Brand Stores
- Specialty Retail Stores
- Online Sales
- Company Website
- 3rd Party Online Sales
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